Maggie Beer Holdings has announced a new chief executive

Maggie Beer Holdings has recruited its next chief executive who comes with a long history at one of Australia’s largest food companies.

Chef Maggie Beer at her farm outside of Adelaide. Picture: Jack Fenby

Maggie Beer Holdings has recruited Goodman Fielder’s former joint managing director - Australia to head up the company, with Kinda Grange to take on the chief executive role next year.

Ms Grange has been at Goodman Fielder for 18 years in senior leadership roles including chief growth officer, group head of marketing and R&D ANZ and general manager grocery.

She will join Maggie Beer on March 1 next year, with current chief executive and managing director Chantale Millard to resign on December 31.

“After more than eight years with the group, Chantale made the difficult decision to

resign, and to focus on her non-executive director roles and build her board portfolio career,’’ the company told the ASX in a statement.

“Chantale will continue to lead and drive the business until Kinda commences, ensuring a smooth transition to Ms Grange.’’

Chantale Millard, managing director of Maggie Beer Holdings speaking at The Australian’s Global Food Forum. Picture: Nikki Short

Ms Grange will be paid a base salary of $550,000 per year and will be entitled to a short term incentive of up to 99 per cent of this amount subject to hitting defined targets.

She will also be eligible for long term performance rights worth up to another 66 per cent of her base salary and will receive a sign on incentive of 1.75 million performance rights which will vest subject to her remaining employed with the company until February 28, 2024.

At the current share price of 20c that incentive is worth $350,000.

The company’s stock is trading not far off its 12-month low of 18.5c, well below its peak over that period of 63c, achieved in February.

Maggie Beer Holdings’ eponymous founder Maggie Beer, who remains on the board, said it was an exciting time for the business.

“We have had such strong stable leadership to bring us to this point and we are now poised ready for the next level of opportunity,’’ Ms Beer said.

“I am so thrilled to have Kinda on-board. Kinda is an authentic leader who builds strong customer partnerships and who I know shares our values, ethos and our passion for

premium food and beverages which is imperative for me personally as well as the whole of MBH.”

Ms Grange said “It is a privilege to be joining the Maggie Beer Holdings group and to have the opportunity to take the business to the next level. I am passionate about food and am excited by the opportunity to build on the amazing foundation already created.”

In a trading update in early December Maggie Beer Holdings said net sales grew by 3.8 per cent in November 2022 compared to the Covid-19-elevated high of November 2021, and achieved 22.7 per cent growth over November 2020.

Its e-commerce net sales increased by 3.1 per cent in November 2022 compared to November 2021, and were 29 per cent higher than November 2020.

Second quarter 2023 net sales to the end of November 2022 were 3.3 per cent ahead of the same time last year, with the key December trading period still to come.

The company also said it might shelve its plans sell off its Paris Creek Farms business and instead use the dairy asset to feed into the fast-growing premium cheese market.

In May, after a review of its dairy operations, Maggie Beer said it would sell Paris Creek Farms as well as St David Dairy as both businesses struggled in the wake of Covid-19 and flow-on effects of the pandemic, such as skill shortages, staff churn and higher milk haulage prices.

St David Dairy was later sold. However, in the trading update the company said that after receiving a highly conditional and non-binding offer for Paris Creek Farms that the board believed offered fair value for the asset, the bidder was unable to move to a binding agreement on acceptable conditions.

“As discussions with potential new purchasers of the Paris Creek Farms asset continue, Maggie Beer Holdings is taking the opportunity to explore various betterment initiatives at Paris Creek Farms that may be able to support the strong growth in the group’s cheese portfolio,” the company said.

“Given the increasing demand for the group’s cheese products, Maggie Beer Holdings is assessing the value of retaining the Paris Creek Farms asset to support and protect our fast-growing cheese volumes, new product development, customer fulfilment, and to maintain our strong position in the speciality cheese category.”

MBH said Paris Creek Farms’ net sales for the 12 months to the end of November were 13 per cent ahead of the same time last year.